Obama administration releases plan for overhauling mortgage market, calls for phasing out Fannie Mae and Freddie Mac

February 11, 2011 |  7:07 am

The Obama administration on Friday released its long-awaited proposal for overhauling the mortgage  market, calling for gradually shutting down bailed-out Fannie Mae and Freddie Macand reducing the government’s now huge role in housing finance. Continue reading “Obama administration releases plan for overhauling mortgage market, calls for phasing out Fannie Mae and Freddie Mac”

Real estate sales rebound in 2011, prices nearly flat

NAR forecast anticipates quicker recovery for new homes

BY INMAN NEWS, THURSDAY, JANUARY 27, 2011.

Inman News™

In its latest real estate and economic forecast, the National Association of Realtors anticipates that sales of existing homes, after falling 4.8 percent in 2010, will rise 7.9 percent this year, to 5.3 million, and another 4.5 percent in 2012, to 5.53 million. Continue reading “Real estate sales rebound in 2011, prices nearly flat”

Gov. signs new homebuyer tax credit

posted by Jeff Collins

Gov. Arnold Schwarzenegger has signed a new bill providing up to $10,000 in tax credits for both new-home buyers and for first-time buyers of existing homes.

An earlier round of state tax credits offered last year were for new-home purchases only. That program was so popular that homebuyers depleted the full $100 million eight months before the deadline. Continue reading “Gov. signs new homebuyer tax credit”

Foreclosure Bargains Getting Harder to Find

Daily Real Estate News  | February 23, 2010

Foreclosure Bargains Getting Harder to Find
Home buyers hoping to snag a really good deal on a foreclosed home are finding it increasingly difficult because supply is shrinking.

The number of foreclosures that are available for sale nationwide fell to 617,000 in December, down from 845,000 in November 2008, reports Barclays Capital.
Continue reading “Foreclosure Bargains Getting Harder to Find”